3D urges shareholders: Reject Nippon Steel leaders

3D Investment Partners is urging Nippon Steel shareholders to vote against the reappointment of its president and vice chairman due to concerns over a large-scale investment plan. This plan is seen as exceeding the company's market value. The Singapore-based investment firm believes the investment plan, including the acquisition of United States Steel, threatens "irreversible" value destruction. 3D cited the plan's estimated ¥10 trillion cost against Nippon Steel's approximately ¥3 trillion market value as a key concern. The call to reject the leadership's reappointment comes before Nippon Steel's annual general shareholder meeting on June 24. 3D also criticized the company's capital allocation policy for lacking transparency and discipline.